Mitsubishi UFJ Asset Management Co. Ltd. Buys 22,518 Shares of FedEx Co. (NYSE:FDX)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of FedEx Co. (NYSE:FDX) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 358,690 shares of the shipping service provider’s stock after acquiring an additional 22,518 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of FedEx worth $98,428,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its holdings in shares of FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 52 shares during the last quarter. Peoples Financial Services CORP. bought a new stake in shares of FedEx in the fourth quarter worth about $28,000. City Holding Co. bought a new position in FedEx during the fourth quarter valued at approximately $28,000. Kentucky Trust Co bought a new position in FedEx during the fourth quarter valued at approximately $28,000. Finally, Activest Wealth Management purchased a new position in FedEx during the 4th quarter valued at approximately $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Up 0.2 %

FDX opened at $244.26 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. The stock’s fifty day moving average is $257.26 and its two-hundred day moving average is $271.36. The company has a market capitalization of $58.83 billion, a P/E ratio of 15.57, a PEG ratio of 1.11 and a beta of 1.23. FedEx Co. has a 52 week low of $217.22 and a 52 week high of $313.84.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing the consensus estimate of $4.56 by ($0.05). FedEx had a net margin of 4.45% and a return on equity of 15.59%. The firm had revenue of $22.16 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter in the prior year, the business posted $3.86 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts forecast that FedEx Co. will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 2.26%. The ex-dividend date is Monday, March 10th. FedEx’s payout ratio is 34.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Raymond James lowered their target price on FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Piper Sandler lowered shares of FedEx to a “neutral” rating in a research report on Monday, February 3rd. Loop Capital downgraded shares of FedEx from a “hold” rating to a “sell” rating and reduced their target price for the stock from $283.00 to $221.00 in a report on Friday, March 21st. UBS Group lowered their price target on shares of FedEx from $350.00 to $331.00 and set a “buy” rating for the company in a report on Friday, March 21st. Finally, Barclays reduced their price objective on FedEx from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $302.71.

Insider Buying and Selling

In other FedEx news, CEO Richard W. Smith sold 2,576 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the completion of the sale, the chief executive officer now directly owns 111,886 shares of the company’s stock, valued at approximately $30,984,589.98. This represents a 2.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan C. Schwab sold 3,980 shares of FedEx stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now directly owns 8,904 shares in the company, valued at approximately $2,461,510.80. The trade was a 30.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,711 shares of company stock valued at $3,312,693 over the last 90 days. Corporate insiders own 8.87% of the company’s stock.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.